Edison Mission Energy (EME) announced that the Federal Energy Regulatory Commission (FERC) approved the sale of substantially all of EME’s assets to NRG Energy. The acquisition of EME’s portfolio of renewable and conventional generation assets will create the second-largest U.S. power company with enough capacity to support nearly 48 million American homes, and NRG Energy will become the third-largest U.S.-based renewable energy generator. This FERC approval represents the final regulatory authorization required to close the sale and parties expect to finalize the transaction on April 1, 2014. As previously reported, the U.S. Bankruptcy Court approved the sale on March 11, 2014, concurrent with its order confirming EME’s Third Amended Joint Chapter 11 Plan of Reorganization.
About Brandy Chetsas
Brandy L. Chetsas is editor in chief at Bankrupt Company News. She joined New Generation Research, Inc. in 1998. As Director of Strategic Content, she leverages 20+ years of communications and project management experience for the distressed investing sector–with particular expertise on corporate restructurings via Chapter 11. Brandy began her career writing for a law enforcement-related publication and teaching English courses at numerous colleges in the U.S. and abroad.